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Marsh MRSH Consulting — Revenue

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Other financials

Income statement

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Revenue$7.4B+6.2%
Operating income$1.9B+3.8%
Net income$1.3B+4.5%
EPS (diluted)$2.63+7.3%

Balance sheet

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Cash & equivalents$1.7B+1.4%
Total debt$21.7B+3.5%
Total assets$59.7B+1.9%

Cash flow

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Operating cash flow$1.5B-8.9%
CapEx$72.0M+22.0%
Free cash flow$1.5B-10.0%

Valuation

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Market cap$91.37B+2.3%
Enterprise value$111.41B
P/E23×
P/S3.3×

Profitability

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Operating margin21.6%-2.0pp
Net margin14.2%-1.8pp
FCF margin17.1%-1.0pp

Returns & leverage

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Current ratio1.1×-0.1×

Where this comes from

Reported directly by Marsh in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The source filing: Marsh’s 10-Q, filed July 21, 2026.

Filed
Jul 21, 2026, 8:13 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000062709-26-000195
(In millions)Three Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Health6115941,2721,202
Career247219495437
Total Mercer1,5981,4983,2592,994
Marsh Management Consulting1,0048731,9011,691
Total Consulting$2,602$2,371$5,160$4,685
Total Segments$7,425$6,996$15,034$14,072
Corporate/Eliminations(21)(22)(33)(37)
Total$7,404$6,974$15,001$14,035

Item 1.Financial Statements.

FAQ

What is Marsh's consulting — revenue?
Marsh (MRSH) reported consulting — revenue of $2.6B in Q2 2026.
How has Marsh's consulting — revenue changed year-over-year?
Marsh's consulting — revenue increased by 9.7% year-over-year, from $2.37B to $2.6B.
What does consulting — revenue mean?
Represents the total gross income generated by the consulting business segment through professional services, advisory, and human capital solutions. This metric reflects the market demand for the firm's consulting expertise and is a primary indicator of segment scale and top-line growth. It excludes inter-segment eliminations to show the standalone performance of the consulting division.

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